AUD/USD Price Analysis: Bears could be on the verge of a move below 0.71 the figure

• AUD/USD bears about to pounce, RBA minutes awaited. 
• AUD/USD is treading on thin ice into the event.

The Reserve Bank of Australia's minutes are coming up and AUD/USD is trading water above 0.71 the figure. AUD/USD is on the verge of a downside correction as per the longer-term outlook as follows:

AUD/USD weekly chart

The weekly chart's recent lows are hanging over the abyss and the market could be on the verge of a significant downside extension. 

AUD/USD daily chart

The current daily support will be targeted which opens the abyss. 

AUD/USD 4-hour chart

A break of the support and retest as per the 4-hour chart could be the next path for the pair.